The Macroeconomic Perspectives of David Ricardo, Karl...

The Macroeconomic Perspectives of David Ricardo, Karl Marx, and John Stuart Mill ECON 350 19 November 2012 Abstract The author surveys three influential economists of the Classical era—Ricardo, Marx, and John Stuart Mill—and introduces the reader to their Macroeconomic perspectives based on some of their more prominent Macroeconomic theories. David Ricardo David Ricardo was a Classical Economist who lived from 1772 to 1823. In his professional life he wore many hats: he was a businessman, a financer, a speculator, and a member of Parliament. But what he is most remembered for is the role that he played in the evolution of economic theory, alongside of such other greats as John Stuart Mill and†¦show more content†¦This was actually quite a big deal during Ricardo’s since Protectionist policies were hindering free trade, which Ricardo was a proponent of as can be seen from his Law of Comparative Advantage. One of Ricardo’s first interactions in the economic dialogue of his time was based around the Quantity Theory of Money. At the time there was something going on in Britain that would come to be known as the â€Å"Bullion Controversy†. Basically, as a result of a potential war the British government temporarily suspended the obligation of the Bank of England to convert its notes into gold. During this time agricultural prices rose (which some people attributes to poor harvests) and gold prices went up. It is on this second point that Ricardo chimed in. Ricardo argued that the rise in gold prices was actually the result of inflation. According to him, since the bank wasn’t obligated to exchange their notes for gold they were printing more notes than they had gold to back them. This flood of currency, Ricardo said, was creating an excess supply which was devaluing the currency and thus causing inflation (Laidler, p. 12). Karl Marx Karl Marx is probably best known for the work that he co-authored with Fredrick Engels entitled â€Å"The Communist Manifesto† and also for his work entitled â€Å"Capital.† He is also arguably one of the most well-known of the Classical Economists, or of any

Custom Written Essays Contrasting Gertrude and Ophelia...

Contrasting the Ladies in Hamlet How can anyone view or read the Shakespearean tragedy of Hamlet without observing an obvious differentiation between the characters of the two female characters? And yet, not all critics agree on even the most salient features of this contrast. Quite opposite the criminality of the king’s wife is the innocence of Ophelia – this view is generally expressed among Shakespearean critics. Jessie F. O’Donnell expresses the total innocence of the hero’s girlfriend in â€Å"Ophelia,† originally appearing in The American Shakespeare Magazine: O broken lily! how shall one rightly treat of her loveliness, her gentleness and the awful pathos of her fate? Who shall dare to hint that she was†¦show more content†¦Yet no one who reads the first soliloquy in the Second Quarto text, with its illuminating dramatic punctuation, can doubt for one moment that Shakespeare wished here to make full dramatic capital out of Gertrude’s infringement of ecclesiastical law [. . .] . (39) In the Introduction to Twentieth Century Interpretations of Hamlet, David Bevington analyzes the dissimilarity: â€Å"Characters also serve as foils to one another as well as to Hamlet. Gertrude wishfully sees in Ophelia the blushing bride of Hamlet, innocently free from the compromises and surrenders which Gertrude has never mastered the strength to escape† (9). Ophelia is so despondent at the death of Polonius and the alienation of Hamlet that she slips into madness – something that would never happen to Gertrude at the loss of a man. The queen has difficulty empathizing with the masculine point of view, even with that of her own son. She sees him attending the courtly social gathering in black, and refuses to tolerate it: Dear Hamlet, cast thy nighted color off, And let thine eye look like a friend on Denmark. Do not for ever with thy vailed lids Seek for thy noble father in the dust. (1.2) Likewise she expresses her wishes that the prince â€Å"go not to Wittenberg.† Later, when the hero’s supposed â€Å"madness† is the big concern, Gertrude analyzes her son’s condition: â€Å"IShow MoreRelated Shakespeares Hamlet - The Character of Ophelia Essay3341 Words   |  14 PagesHamlet: The Character of Ophelia  Ã‚  Ã‚  Ã‚  Ã‚        Ã‚   Concerning the Ophelia of Shakespeare’s tragic drama Hamlet, is she an innocent type or not? Is she a victim or not? This essay will explore these and other questions related to this character.    Rebecca West in â€Å"A Court and World Infected by the Disease of Corruption† viciously, and perhaps unfoundedly, attacks the virginity of Ophelia:    There is no more bizarre aspect of the misreading of Hamlet’s character than the assumptionRead MoreEssay on Interpreting Hamlet’s Ophelia3518 Words   |  15 PagesHamlet’s Ophelia Was Ophelia in love with Hamlet, or did she have more feeling for her father than for her boyfriend? In Shakespeare’s Hamlet was Ophelia’s madness contributed to by the prince’s rejection of her? The answers to these and other questions about this tragic figure will be given. Rebecca West in â€Å"A Court and World Infected by the Disease of Corruption† argues that Ophelia has no love for Hamlet, but only for her father: For the myth which has been built round Hamlet is never

Corporate Governance Ethics & BHP Billiton - Free Sample

Question: Discuss about the Corporate Governance and Ethics of BHP Billiton. Answer: Introduction BHP Billiton is a leader in the field of energy resources in the world (BHP Billiton, 2015). The company is the largest mining company in Australia and had diversified its business in petroleum resources. BHP Billiton was formed by the merger of Australian Broken Hill Proprietary Company Ltd and Anglo Dutch Billiton in the year 2001 (BHP Billiton, 2015). The organization is headquartered in Melbourne, Australia. The primary products of the organization are iron ore, uranium, coal and different gases (BHP Billiton, 2015). The organization has a diversified portfolio of products along with experienced employees to retain the leading position in the energy resource industry. The company also looks after the welfare of the employees and the environment while carrying out its different activities. Strategic issues related to BHP Billiton According to Carroll (2015), environmental scanning is an important procedure which helps an organization to analyze the different trends, issues, and relationships about the external factors which are related to the organization. The outcomes of the environmental scanning help an organization to take important decisions. A detailed analysis of the environmental factors helps the managers of an organization to take future steps and methods of activities. Economic factors with respect to theories Different activities of BHP Billiton depend on the political environment of the country. According to Dunlevie (2015), BHP Billiton mainly carries out its business in Australia, but the organization is spread throughout the world. Australia is a politically stable country, and the government of Australia supports the functioning of the organization. As stated by Floris, Grant and Cutcher, (2013), BHP Billiton has employee strength of over 3000 workers who are employed in different factories of Australia and America. The trade law introduced by the government of Australia is also helpful in the functioning of the organization. The board member of BHP Billiton represents the shareholders of the organization. Agency Theory and Stake holder Theory According to Grnig and Khn, (2015), the board members added value to the functioning of the organization with the help of corporate governance. Agency theory finds out a relationship between the share holders and the agents. The board members of BHP Billiton have clearly specified the role of the different people in the organization through the Chief Executive Officer. The Group company secretary helps the chairperson of the organization to take different decisions. Agency theory is followed by the organization to maintain a close relation with the stakeholders and the top management. Stake holders often recruit agents who take decisions on their behalf. According to Mangiavacchi and Rapallini, (2014), the main objective of the organization is to create long-term strategies. Individual board directors and the chairperson of the organization may give different pieces of advice for the development of the organization. Sustainable development helps BHP Billiton to have a competitive adv antage over others. The feedback from the stakeholders and shareholders also helps the activities of the organization. Stewardship Theory Stewardship theory is also followed in the organization. According to Floris, Grant and Cutcher, (2013), Stewardship theory looks after the maximum benefit of the shareholders and increases their wealth. The management works for the benefit of the share holders. In this theory stress is put on individualism. This theory also clearly explains the role of CEO in the organization. BHP Billiton has also implemented this theory for the benefit of both the organization and its employees. Resource development theory According to Ni and Ã… ¾tefea, (2014), resource dependence theory concentrates of the role of the board of the directors and their allocation of the resources. External environment is also an important part of the theory. Representatives and different members are recruited according to resource dependence theory. On the other hand Dunlevie, (2015), the directors of the organization also consults with the suppliers and the buyers of the organization and make decisions accordingly. According to the resource development theory the directors are divided into four categories. They are business experts, support specialist, community influential and also insider specialist. Business experts are the current and former are the executive directors of the organization and they take part in decision making. Support specialists are the lawyers, bankers and insurance specialist of the organization. Community specialists are political leaders, social leaders and even the faculty members of the orga nization. Insiders are the former executives who give special consultants to the law and finance department of the organization. In resource dependency theory the the directors also looks after the different resources of the organization. The directors of BHP Billiton implements monitor process so that the resourcs are implemented optimally (Pivorien, 2015). Main resources of the organization are human power. The organization always looks after the benefit of the employees. Environmental factor with respect to theories. Political Theory According to Mangiavacchi and Rapallini (2014) political theory develops the voting criteria in the organization. Decision making, cultural challenges and environmental factors are important part of political theory. Political models also have a huge impact on the activities of the organization. New laws have been implemented the government of Australia to protect the environment. Different activities of the organization affect the environment. The organization is responsible to producing large amounts of carbon dioxide which in turns results in greater generation of Greenhouse gases. On the other hand, Grnig and Khn, (2015) believe that Greenhouse gases increase the global temperature of the world, and this is a serious issue for the organization. However, the organization has taken various measures to stop the burning of fossil fuels with the help of alternative processes. The iron ore production of the organization pollutes the land and the water of the environment highly. The org anization BHP Billiton also has introduced several measures to remove harmful substances from the waste materials before they are disposed into the environment. The organization also has taken steps to prevent land pollution by engaging in planting trees and proper maintenance of ores (Ghosal, 2015). According to Dunlevie, (2015) the board of Directors of BHP Billiton has introduced sub-committees to look after the environmental issues which are related to the organization. The presence of these committees has reduced the emission of carbon fuels into the environment. The government of Australia has also introduced several laws to prevent environmental degradation. On the other hand, Grnig and Khn, (2015) have opined that the sub-committees set up by the organization reduced the level production of harmful gases. Stake holders also monitors on the different activities of the organization to reduce carbon emission. The Strong environmental performance of the organization has increased the Corporate Sustainability level. However, the presence of CSR level is not exactly cleared by the organization and its functional activity. Transaction Cost Theory According to Ni and Ã… ¾tefea, (2014), transactional theory was an alliance of law with the organization. The theory states that different people in the organization has different views. The theory also determines the cost of production in any organization.BHP Billiton is a huge organization and different costs are involved with the company. Different activities of the people with related to cost is described in this theory. Conclusion BHP Billiton is an international organization which has spread its business in the various parts of the world. A thorough analysis of the organization has been done by the researcher on the corporate social responsibilities of the organization. It has been found that economic condition of the organization is quite healthy. The CEO of the organization and the board of directors take important decisions which are beneficial in the future. They always look after the well-being of the employees, stakeholder, organization and the environmental factors. The CEO and other board members are also knowledgeable about the environmental circumstance and take decisions accordingly. All these have helped BHP Billiton to emerge out as a strong ethical organization. References BHP Billiton,( 2015),EMJ - Engineering Mining Journal,vol. 216, no. 4, pp. 12. Carroll, A. B. (2015). Corporate social responsibility.Organizational Dynamics,44(2), 87-96. doi:10.1016/j.orgdyn.2015.02.002 Dunlevie, J. (2015),Cyclone Lam rains cause manganese spills at BHP Billiton GEMCO mine, environment watchdog says; The NT Environment Protection Authority says heavy rains from Cyclone Lam are the likely cause of four discharges of manganese from a BHP Billiton mine into the ocean, Australian Broadcasting Corporation, Sydney. Floris, M., Grant, D. Cutcher, L. (2013), "Mining the Discourse: Strategizing During BHP Billiton's Attempted Acquisition of Rio Tinto",Journal of Management Studies,vol. 50, no. 7, pp. 1185-1215. Ghosal, V. (2015). Business strategy and firm reorganization: Role of changing environmental standards, sustainable business initiatives and global market conditions: Ghosal: Business strategy and firm reorganization.Business Strategy and the Environment,24(2), 123-144. doi:10.1002/bse.1815 Grnig, R., Khn, R. (2015). Global Environmental Analysis. InThe Strategy Planning Process(pp. 89-96). Springer Berlin Heidelberg. Mangiavacchi, L., Rapallini, C. (2014). self reported economic condition and home production: Intra household allocation in italy.Bulletin of Economic Research,66(3), 279-304. doi:10.1111/j.1467-8586.2012.00446.x Ni, C. G., Ã… ¾tefea, P. (2014). Cost control for business sustainability.Procedia - Social and Behavioral Sciences,124, 307-311. doi:10.1016/j.sbspro.2014.02.490 Pivorien, A. (2015). Flexibility valuation under uncertain economic conditions.Procedia - Social and Behavioral Sciences,213, 436-441. doi:10.1016/j.sbspro.2015.11.563 Xia, Y., Yang, J., Zhou, T. (2015). Revenue management under randomly evolving economic conditions: RM under randomly evolving economic conditions.Naval Research Logistics (NRL),, n/a. doi:10.1002/nav.21635

Sample Disadvantaged Applicant Essay

Sample Disadvantaged Applicant EssayThe best way to improve your chances of being admitted into the Amcas degree program is to write a sample disadvantaged applicant essay. This may seem like an obvious solution to a difficult problem, but it's actually a complex one. Writing an essay that is not considered to be appropriate or in accordance with school policies and procedures can often result in a student having their admission to the program being denied. You want to make sure that the essay you choose is carefully considered before submitting it to the admissions office.A sample essay may not seem like it would be very helpful, but it is actually an essential part of the application process. So long as you prepare a quality sample essay, the admissions officer will not have a problem admitting you to the program. Of course, you will also want to submit a sample for various reasons - your friends and family members are likely to need one, and even if your parents don't have a lot o f luck finding applicants, they may think you're great, so submitting a sample could give them some ideas.One of the first things to remember when preparing your CV is that the admissions staff of the school is reviewing this as well. They know what is expected from a CV and will need to have a sample to refer to if they do not see a similar application at another school. Thus, it is best to have at least one sample of yours ready when submitting your application.You should also remember that the admission director is likely to ask for some previous work experience as an applicant - whether in the form of a letter or in the form of a portfolio - before the admissions officer can consider you for admission. If you've never worked in the public sector before, you will want to make sure that you have some examples of your work before sending in a sample. The application should reflect your personality and leadership skills, not just your education and academic achievements.There are se veral ways to present your text samples, including PDF and MS Word document formats. If you have a scanner, photocopier, or even an inkjet printer, this is another good reason to send in a sample. It allows you to make a copy and then type in your text. While a variety of software options are available, most are meant to be used on a PC, making it easy to use a variety of programs.Most schools will have certain criteria that are applied to certain types of art students. If you don't meet the admission requirements, you will want to create a sample using art-specific words, rather than general English words. In addition, even though all English literature courses in the United States require a minimum number of units in literature, some schools may have special admissions requirements. So be sure to submit a sample essay tailored to your field, and meet the admissions requirements if necessary.It is critical that you use the right materials when preparing a sample for the Amcas progr am. Even though the faculty of the school already has a database of applicants, you'll still want to make sure that you include all the things that are required for admission, which is why using a sample application is so important.